微观经济学模拟题分析.docx

1、微观经济学模拟题分析Microeconomics Final Test 2010I. Multiple Choice (1 points per each. In total 40 points) Identify the letter of the choice that best completes the statement or answers the question._A_1. Which of the following will change a nations comparative advantage?A. a technological advance in produc

2、ing manufactured goods B. a doubling of all wages C. quotas on imports D. a change in consumers preferences for imported goods 影响比较优势的因素：气候和自然资源；劳动力和资本的相对充裕；技术；外部经济_D_ 2. If Japan can produce each unit of steel using fewer resources than Canada does, A. Canada has an absolute advantage in steel prod

3、uction. B. Japan has an absolute advantage in steel production. C. Japan has a comparative advantage in steel production. D. Canada has a comparative advantage in steel production. 绝对优势：数量 比较优势：机会成本_B_ 3. Suppose you are considering going to the movies, and you place a $12 value on your anticipated

4、enjoyment of the movie. The ticket price is $6 and you would be giving up two hours of work, where you earn $5 per hour. You would go to A. work; the opportunity cost of the movies exceeds the expected benefit. B. the movies; your incentive is the $6 excess expected benefit. C. the movies; your enjo

5、yment will exceed the lost wages by $2. D. the movies; the benefit of $18 exceeds the lost wages. _D_ 4. The amount of a good or service that buyers would be willing and able to purchase at a specific price is known as A. quantity demanded. B. demand. C. supply. D. quantity supplied. _C_ 5. Which of

6、 the following are the best examples of substitute goods? a. personal computers and computer software programs b. milk and cookies c. IBM and Gateway personal computers d. hot dogs and mustard _B_ 6. If the decline of Good As price leads the demand curve of Good B moving to the right, A. Good A and

7、Good B are substitutes. B. Good A and Good B are complements. C. Good A is an inferior good, Good B is a luxury good. D. Good A is a luxury good, Good B is an inferior good. _ 7. If price elasticity of demand is 2.0, this implies that consumers wouldA. buy twice as much of the good if price falls by

8、 10 percent. B. require a 2 percent cut in price to raise quantity demanded of the good by 1 percent. C. buy 2 percent more of the good in response to a 1 percent cut in price. D. require at least a $2 increase in price before showing any response to the price increase. _ 8. If Weiskamp T-Shirt Co.

9、lowers its price from $6 to $5 and finds that students increase their quantity demanded from 400 to 600 T-shirts, then the demand for Weiskamp T-shirts within this price range is A. price inelastic. B. price elastic. C. unit elastic. D. cross elastic. _ 9. A 5 percent increase in the price of sugar

10、reduces sugar consumption by about 10 percent. The increase causes households to A. spend more on sugar. B. spend less on sugar. C. spend the same amount on sugar. D. consume more goods like coffee and tea that are complements of sugar. _ 10. In which of the markets listed below would you expect the

11、 least elastic response from suppliers? A. fast food B. soft drink C. road building D. Picasso paintings _ 11. If the price of Good A decreases from $10 to $9 and its quantity demanded increases 100, its price elasticity of demand is A. inelastic. B. elastic. C. unit-elastic. D. unclear. _ 12. If th

12、e equilibrium price of bread is $2 and the government imposes a $1.50 price ceiling on the price of bread, A. more bread will be produced to meet the increased demand. B. there will be a shortage of bread. C. the demand for bread will decrease because suppliers will reduce their supply. D. a surplus

13、 of bread will emerge. _13. Rent controls typically end up A. increasing rents received by landlords. B. raising property values. C. encouraging landlords to overspend for maintenance. D. discouraging new housing construction. 3 _ 14. Assume that the government sets a ceiling on the interest rate th

14、at banks charge on loans. If the ceiling is set below the market equilibrium interest rate, the result will be A. a surplus of credit. B. a shortage of credit. C. greater profits for banks issuing credit. D. a perfectly inelastic supply of credit in the market place. _ 15. Which of the following bes

15、t explains the source of consumer surplus for good A? A. Many consumers would be willing to pay more than the market price for good A. B. Many consumers pay prices that are greater than the equilibrium price of good A. C. Many consumers think the market price of good A is greater than its cost. D. M

16、any consumers think the price elasticity of demand for good A is unit elastic. _ 16. If you had been willing to pay $2.19 for the gallon of milk purchased at the supermarket but were required to pay only $1.89, you have gained A. a refund of $.30 from the clerk. B. a consumer surplus amounting to $.

17、30. C. excess marginal benefit of $2.19. D. producer surplus of $.30. _17. If demand increases when supply is perfectly elastic, then A. consumer surplus will remain the same. B. consumer surplus will increase. C. it is not possible to predict the change in consumer surplus. D. consumer surplus will

18、 decrease with the increase in price. _ 18. Producer surplus tends to be large when A. supply is elastic. B. demand is elastic. C. supply is inelastic. D. demand is inelastic. _ 19. Which of the following is an example of a positive externality? A. air pollution B. a person who litters in a public p

19、ark C. a consumer whose dream comes true when she buys a new convertible D. a nice garden in front of your neighbors house _ 20. Deadweight loss A. means that there is a loss to some individuals without a corresponding gain to others. B. is not really a loss to society because what one individual lo

20、ses another individual gains. C. can be eliminated by sales taxes. D. can occur even if output is at the efficient level. 4 _21. The slope of an indifference curve is A. marginal rate of substitution. B. marginal rate of technical substitution. C. marginal rate of transformation. D. marginal utility

21、. _ 22. When total output increases from 100 to 101 and total costs increase form 300 to 315, marginal cost is A. 30. B. 330. C. 300. D. 15. _ 23. As Als Radiator Co. continues to add workers, while keeping the same amount of machinery, some workers may be underutilized because they have little work

22、 to do while waiting in line to use the machinery. When this occurs, Als Radiator Co. encounters A. economies of scale. B. diseconomies of scale. C. increasing marginal returns. D. diminishing marginal returns. _ 24. If the price ratio of commodities X and Y is 1.25 and their ratio of marginal utili

23、ty is 2, in order to maximize utility the consumer should A. buy more X and buy less Y. B. buy more Y and buy less X. C. buy more X and Y at the same time. D. buy less X and Y at the same time. _25. Which of the following is the best example of a variable cost? A. monthly payments for hired labor B.

24、 property tax payments C. monthly rent payments for a warehouse D. pension payments to retired workers _ 26. The minimum points of the average variable cost and average total cost curves occur where A. the marginal cost curve lies below the average variable cost and average total cost curves. B. the

25、 marginal cost curve intersects those curves. C. wages are the lowest. D. the slope of total cost is the smallest. _ 27. When the marginal product of labor falls, the marginal cost of output A. falls, then rises. B. becomes negative. C. rises. D. remains constant. 5 _ 28. Which of the following fact

26、ors is most likely to shift IBMs total cost and marginal cost curves downward? A. a technological advance resulting in increased productivity B. higher property taxes charged by the municipal government C. increased wages to attract additional computer operators D. a reduction in subsidies from the

27、state government _ 29. When total production decreases, A. APL is zero. B. APL is negative. C. APL is zero. D. APL is negative. _ 30. Since the 1980s, Wal-Mart stores have appeared in almost every community in America. Wal-Mart buys their goods in large quantities and therefore at cheaper prices. Wa

28、l-Mart also locates its stores where land prices are low, usually outside of the community business district. Many customers shop at Wal-Mart because of low prices and free parking. Local retailers, like the neighborhood drug store, often go out of business because they lose customers. This story de

29、monstrates thatA. consumers are boycotting local retailers whose prices are relatively higher. B. there are diseconomies of scale in retail sales. C. there are economies of scale in retail sales. D. there are diminishing returns to producing and selling retail goods. _31. Which of the followings is

30、mostly unlikely to be a monopolist? A. the only doctor in a small town. B. the Coca-Cola company. C. the electricity company in a region. D. the tap-water company in a region. _ 32. If a firm can produce the same level of output when it uses more one unit of labor while using less two units of capit

31、al, MRTSLK is A. 0.5. B. 2. C. 1. D. 4. _ 33. Which of the followings is correct when AC is at the lowest point? A. AVC=FC. B. MC=AC. C. P=AVC. D. P=MC. _ 34. A saving grace of monopoly compared with competition is that A. monopolists have more incentives to reduce their production costs. B. the output restricted by a monopolist is a good way to reduce pollution in a polluted industry. C. keeping monopoly is better to techn